DBS CEO Piyush Gupta to Step Down in 2025
By Gurdip Singh, Singapore Aug 07, 2024 16:58
DBS Group CEO Piyush Gupta will step down in March 2025, to be succeeded by Tan Su Shan. Gupta's tenure saw DBS achieve significant milestones, including being named 'World's Best Bank'.

Singapore, Aug 7 (PTI) Piyush Gupta, the Indian origin Chief Executive of Singapore's largest bank DBS Group, will step down in March 2025.
He will be succeeded by Tan Su Shan, who was appointed as deputy CEO, in addition to her current role as the group head of institutional banking, DBS said in a regulatory filing on Wednesday.
Gupta, who took the top position in DBS in 2009 after spending 27 years at Citigroup, was awarded the Public Service Star by Singapore's President in 2020.
During his tenure, DBS was recognised for its use of technology and named the "World's Best Bank" by publications such as Euromoney and Global Finance.
In 2019, DBS was also listed among the top 10 most transformative organisations of the decade by the Harvard Business Review.
Gupta, 64, will retire at the next annual general meeting on Mar 28, 2025.
He took a 30 per cent cut, amounting to SGD 4.14 million (USD 3.12 million), in his variable pay. This resulted in his total compensation falling from SGD 15.4 million in 2022 to SGD 11.2 million last year.
In February, Gupta said the bank's senior management team was taking responsibility for service disruptions by taking pay cuts. DBS has been plagued by multiple service disruptions, including a major one in October 2023.
Tan, 56, has had more than 35 years of experience in consumer banking, wealth management and institutional banking. Besides Singapore, she has worked in major financial centres such as Hong Kong, Tokyo and London.
He will be succeeded by Tan Su Shan, who was appointed as deputy CEO, in addition to her current role as the group head of institutional banking, DBS said in a regulatory filing on Wednesday.
Gupta, who took the top position in DBS in 2009 after spending 27 years at Citigroup, was awarded the Public Service Star by Singapore's President in 2020.
During his tenure, DBS was recognised for its use of technology and named the "World's Best Bank" by publications such as Euromoney and Global Finance.
In 2019, DBS was also listed among the top 10 most transformative organisations of the decade by the Harvard Business Review.
Gupta, 64, will retire at the next annual general meeting on Mar 28, 2025.
He took a 30 per cent cut, amounting to SGD 4.14 million (USD 3.12 million), in his variable pay. This resulted in his total compensation falling from SGD 15.4 million in 2022 to SGD 11.2 million last year.
In February, Gupta said the bank's senior management team was taking responsibility for service disruptions by taking pay cuts. DBS has been plagued by multiple service disruptions, including a major one in October 2023.
Tan, 56, has had more than 35 years of experience in consumer banking, wealth management and institutional banking. Besides Singapore, she has worked in major financial centres such as Hong Kong, Tokyo and London.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 8.32 ( -3.82)
- 22557801
- AvanceTechnologies
- 0.63 ( -7.35)
- 19298997
- Srestha Finvest
- 0.64 ( -1.54)
- 11260182
- Vakrangee
- 16.66 (+ 4.65)
- 11168963
- Thinkink Picturez
- 0.37 ( 0.00)
- 8629156
MORE NEWS

Innovatiview India Files ₹2,000 Crore IPO...
Innovatiview India, a technology-driven security solutions provider, has filed draft...
Carborundum Universal Q3 Profit: Rs 37.61 cr
Carborundum Universal Ltd reported a consolidated net profit of Rs 37.61 crore for the...

Sensex, Nifty Climb After 7-Day Decline: Trade...
Indian equity benchmarks Sensex and Nifty surged in early trade on Friday, driven by...